HashFlare, a New Cloud Mining Service

26Apr 2015

HashFlare is a new cloud mining service that we’ve just discovered, apparently a part of the European company HashCoins that manufactures ASIC miners. There is a bit of controversy surrounding the ASIC maker, but it has been available for a while and apparently has shipped some miners already with more available for pre-order. We have not tested any of their hardware miners, but their cloud mining service is something that we are going to be testing. If you are interested in their mining hardware we suggest that you read a bit about the company and their products released so far, as their upcoming products do not seem very attractive price wise at the moment. Their cloud mining prices do seem a bit more interesting though, but don’t expect them to be the best out there.

It is interesting to mention that the cloud mining service does offer Scrypt Cloud Mining at $9.95 per 1 MHS, something that is not worth investing at all at the moment in due to the very high price per megahash and very low ROI you can expect (less than 1 USD a month) due to the daily fee of $0.01 USD per megahash. The Bitcoin cloud mining hashrate prices do seem much better than he Scrypt ones, though we’ve seen better than $4.45 USD per 10 GHS with a daily fee of $0.01 USD per 10 GHS. Interestingly enough the service apparently also plans to offer Scrypt-N cloud mining powered by GPUs, even though that has not been profitable to mine for quite a while now and with the mother company having already announced upcoming Scrypt-N capable ASIC miners. So if you want to check the service out the only thing that is worth to go for is the SHA-256 cloud mining hashrate, and as usual we would not recommend to go with a large investment in a new service that has recently been launched.

We have already purchased 100 GHS worth of Bitcoin cloud mining hashrate as an initial test at the service just to test things and we have even found some promotional codes that can give you discount from the regular prices. So if you do want to try HashFlare you might want to use the promo code for 5% off for purchases over 250 GHS – HF15SMMR5P2 or 20% off for purchases over 2500 GHS – HF15SMMR20P2, the codes should be valid for Scrypt hashrate as well. We have paid for the hashrate with Bitcoins and as soon as the first network confirmation was received the hashrate was available in our account, so it started mining for us. There are alternative ways to pay for hashrate such as with wire transfer or a credit card also available aside from the BTC option. You can apparently also purchase additional hashrate with coins you have mined and have available in your balance, so you can easily reinvest some of the miner coins for more hashrate. Another interesting feature is the ability to select up to 3 different pools to spread your hashrate from a list of pools available, you do not need to add workers or to have registration in any of the pools available. Do note that apparently the poos you choose and the percentage of your hashrate available at each pool may apparently affect your mining profitability.

Bitcoincloudservices.com was also working very well for month paying daily with only 5 star comments….until they stopped and disappeared. Receiving daily payouts doesn’t prouve it is not a ponzi scheme, the important thing is to be sure of who’s BEHIND the company. Bitcoincloudservices, zeushash…bitcoin cloud mining is full of scams. But so far I also believe hashflare is legit.

I am using Hashflare since December 2017. At the beginning everything was going well. Then I have started to face some problems.
1. They have increased each day the maintenance fee. It was 13.52% then it has reached up to 25.8% which is too high.
2. Each time I have changes to get better hash rate efficiency, I have end up with lower Hach Rate %. Which is not understandable. I have analysied each pool performance to get better rate but it allways end up with worse.
3. I have made wire transfer at January 2nd. 2018. After waiting long time to get additional Hashrate, I did not get anything. I have written several e mails to get fixed the problem. Until today it is not solved. The wire transfer has been done. I did not get any hashrate and no money pay bach as well. And the worse thing I did not get any clear explanation what is going on too.
So, there are what I have faced with with Hashflare.
Under this experience, I would recomend to be far away from this mining facility.

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